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South Bend edevelopment Commission <br />Regular Mee ing. - March 25, 1983 <br />6. NEW BUSINESS (Cont.) <br />a. Uonitinuea .. . <br />Mr. Hunt noted that this was a loan for the <br />emergency repair of a roof in the amount of <br />$1,L12.00 for a house at 1354 Chalfant. <br />Upo a motion made by Mr. Robinson, seconded <br />by 4r. Donaldson and unanimously carried, the <br />Homaowners Emergency Loan in the amount of <br />$1,L12.00 for 1354 Chalfant was approved. <br />b. Comnission approval i <br />Kaw eer Company, Inc. <br />at 40 East Colfax. <br />C. <br />for a lease with <br />or a property located <br />Mr. Hunt noted that Commission approval was <br />re ested for approval of a lease with Kawneer <br />Com y, Inc., the parent company of South <br />Ben Screw Products. He explained that we <br />have acquired the property in the East Race <br />are and have developed a standard lease with <br />South Bend Screw Products. <br />Mrs Kolata explained that the lease begins <br />immediately but the first payment of rent will <br />not cane until 60 days from the first of the <br />month after the purchase of the property, which <br />would be June lst. The payments will go into <br />an escrow account and if they relocate within <br />the City limits by July 31, 1983 the lease pay- <br />men :s will be paid back to them. If they do <br />not relocate by July 31st but are underway in <br />tenns of relocating, we will make some pro - <br />vis ons to allow them to get their money back. <br />The other major provision in the lease is that <br />on or about August 1, 1983 there will be some <br />cut in electric service to the property because <br />of the East Race construction and South Bend <br />Screw Products will assume all responsibility <br />for maintaining electrical service after <br />Au st lst. <br />Upon a motion made by Mr. Robinson, seconded by <br />Ms. Auburn and unanimously carried the lease <br />wi Kawneer Company, Inc., located at 340 East <br />Colfax was approved. <br />Staff report on tax abatement request for 1116 <br />South Main Street (Joseph A. and Geraldine L. <br />-4- <br />PROPOSAL AND LOAN IN CON- <br />NECTION WITH HOMEOWNERS <br />EMERGENCY LOAN PROGRAM FOR <br />CELESTE HERRING, 1354 <br />CHALFANT, IN THE AMOUNT <br />OF $1,112 VAS APPROVED <br />LEASE WITH KAWNEER COMPANY, <br />INC., FOR PROPERTY LOCA'T'ED <br />AT 340 E. COLFAX WAS APPROVED <br />